Government’s British Business Bank to lend £10m through peer-to-peer lender RateSetter

The British Business Bank, the government-owned financial institution, has announced that it is to lend £10m to businesses owners through peer-to-peer (P2P) funding platform RateSetter.

The deal, which will commence from Monday 21 July, is targeted at supporting the growth of individual entrepreneurs, sole traders and partnerships through RateSetter’s business loans.

The Bank will lend 40% of any qualifying loan on the site until the first £4m has been utilised, and will then move to 20% for the remaining £6m; facilitating a total of £40m in funding.

Launched in October 2010, FCA-regulated RateSetter provides P2P loans directly to the individual rather than the […] Read more

Alternative Funding Network P2P loans

How P2P for Property can Enhance the Market: Insights from Ian Thomas, LendInvest

A few weeks ago, the AFN caught up with Ian Thomas, Co-founder of LendInvest to learn about their model and how property based lending via P2P can enhance the marketplace for borrowers and lenders alike. Be sure to check out the LendInvest Case-study video in July!

Here is what he had to say:

P2P lending will provide a catalyst for change in the mortgage market, P2P lender’s use of technology and big data will enable better risk underwriting and will provide borrowers with a straight forward and transparent application process. […] Read more